New Delhi, May 14 (IANS) The Centre has imposed a limit on duty-free gold imports under the advance-authorisation scheme for exporters at a maximum of 100 kg per licence in a move aimed at curbing diversion of imported gold into the domestic market to make a fast buck amid concerns over the soaring import bill, which is draining precious foreign exchange reserves.Under the revised norms issued by the Directorate General of Foreign Trade, first-time applicants seeking permission to import gold wi…
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New Delhi, March 21 (IANS) China could move out of deflation but into a harmful form of ‘cost‑driven inflation’ as the Iran war pushes global energy prices higher, a new report has said.Rising oil costs are lifting production costs in China even while domestic demand remains weak, pushing companies into a space where they are unable to raise prices significantly, a report from EU-based Modern Diplomacy said.”Higher energy and raw material costs will likely squeeze profits further. Instead of p…
New Delhi, March 13 (IANS) India is planning a new set of incentives to support domestic mobile phone manufacturing after its flagship production-linked incentive (PLI) scheme for the sector ends this month.The move is expected to benefit global smartphone makers such as Apple and Samsung, which have significantly expanded their production in the country in recent years, according to multiple reports.The government’s decision to continue supporting the industry comes at a time when India may l…